As a professional photographer, pricing your services correctly is essential to your success. You want to make sure you are charging enough to cover your costs while still making a profit. This photography pricing guide will walk you through the process of figuring out how much to charge for your photography services. We’ll provide tips on how to come up with a competitive and winning pricing strategy that will help you attract more clients!
When starting out, many photographers wonder how much they should charge for their services. It’s important to find a balance between under-pricing and over-pricing your photography. If you under-price your photography, you may not make enough money to cover your costs. Over-pricing photography can turn away potential clients who are looking for a good deal.
The first step in determining your photography pricing is to calculate your costs. This includes your equipment, software, props, and other photography-related expenses. Once you know your costs, you can start to price your services based on the type of photography you offer. For example, wedding photography may be priced differently than headshot photography.
Next, you’ll want to consider your competition and what they are charging for similar photography services. This will help you determine if your pricing is in line with the market or if you need to adjust your rates.
Next, think about how much time and effort you put into each photography session and for the post-production which is required after the photography photoshoot.
As a professional photographer, you must provide unique services and charge rates that reflect the quality of your work and your skill, you should set your prices to reflect your brand, specialty, knowledge, experience, and a variety of other factors.
Consider the following factors when developing your photography pricing model
- The photography market that you are in
- The expenses of running a photography business include:
- Consider and calculate the cost of your photography services or photography products
- The cost of your time and labor
- Consider and add your desired profit
- Calculate your taxes
The photography market that you are in
The photography market is very competitive. There are many photographers who are willing to work for low prices. However, if you want to be successful, you need to charge rates that reflect the quality of your work and your skill. Review Your Competition, what they charge, and how much they charge. Is there a demand for portrait or beauty photography in your area?
The basic premise for calculating your photography pricing is: Cost of running your photography business + Cost of goods + Cost of your time and labor + Profit + Taxes = Pricing
Some of those costs may be advertising, equipment, props, software, education;
Cost of goods may include backdrops, albums, frames, flash drives, printmaking, etc;
Take into consideration your time and labor. The time spent on each photography session, photo editing, and retouching, post-production. Think about your profit – what you want to make for yourself after all your photography-related expenses are paid. Take into account the taxes. Check with your accountant to make sure you’re factoring in any business taxes that may apply to your photography pricing.
Now that we’ve gone over the basics of photography pricing, let’s dive into the details of how to consider the expenses of running your photography business and how to price your photography services.
The expenses of running a photography business include:
Every business has expenses, it’s natural because if your business has no expenses you have no business or it doesn’t grow. So some of the most common photography business expenses are: advertising, equipment, props, software, and education.
Advertising: As a photographer, you’ll need to advertise your photography business. There are many ways to do this, including online and offline methods. You’ll need to factor in the cost of advertising when pricing your photography services.
Equipment: As a photographer, you’ll need to have the right equipment to do your job. This includes things like cameras, lenses, tripods, lighting, and other photography accessories. The cost of photography equipment can be expensive, so you’ll need to factor this into your pricing.
Your equipment doesn’t need to be the most expensive to do your job because the quality of work is not just the camera you own but having a really good camera can help you create better quality service.
Props: You may also need props for your photography sessions. This could include things like backdrops, albums, frames, flash drives, printmaking, and other photography props. The cost of photography props can add up, so you’ll need to factor this into your pricing.
Software: You may also need software for your photography business. This could include things like photo editing software, retouching software, and post-production software. The cost of photography software can be expensive, so you’ll need to factor this into your pricing.
Education: As a photographer, you may need to continue your education to keep up with the latest photography trends. This could include things like photography workshops, online courses, and books. The cost of photography education can add up, so you’ll need to factor this into your pricing.
Rent: You may also need to factor in the cost of rent if you have a studio space. The cost of rent can be expensive, so you’ll need to factor this into your pricing.
Tip: Never discount your services to attract new customers. This is one of the main mistakes people make to hook a client.
Instead of trying to attract new customers by discounting the prices of your photography services, do your best and give more value to your customers than the price they pay. Evaluate your perceived value and make sure it’s in line with what the customer is willing to pay. Only give discounts to old and repeatable customers so that they are loyal to you and come back again and again, time after time. Another thing you can do is to reduce your costs to lower your prices. Try cutting back on software for example. You may get software for 2-3 years ahead (prepay) or for hosting for your website or arrange to print larger quantities of photos for example to reduce costs to other subcontractors, but don’t reduce your services and don’t reduce your profit margin.
The cost of your time and labor
There are many factors to consider when pricing your photography services. This includes your costs, the time you spend on photography sessions, editing, and post-processing, which unfortunately many people don’t consider. Many people also don’t include the time they spend traveling to the location. Some people may find it really difficult to pre-calculate everything in advance and it’s true but it’s really important to get paid for your time and effort.
Tip: Never be the guy who works for cheap, don’t get the nickname of the cheapest guy cheapest in town. One of the best things you can do for your photography business is to create an amazing portfolio and a website that showcases your work and to do that, you will need to spend time building your portfolio so you can attract new and repeatable clients.
Consider and add your desired profit
When you are figuring out how to price photography, make sure you aren’t leaving anything out so you need to make sure that you are making a profit. You will work hard for your clients and deserve to be rewarded. If you want to be competitive and grow over time, you need to make a good profit in order to be able to invest in your services and provide increasingly high-quality services, so don’t worry and think about the profit you deserve. Now that we have reviewed the main things to consider when calculating how much profit you should make, let’s turn our attention to an equally important part, namely the taxes you have to pay.
Calculate your taxes
Don’t forget to set aside some money for taxes! When you are running a business, there are a lot of different taxes that you have to pay and it can be difficult to keep track of everything. The most important thing is to make sure that you are setting aside enough money every month so that you don’t have to worry about it at the end of the year. There are a lot of different tax laws and it can be difficult to keep track of everything, so make sure you consult with an accountant or tax specialist so that you are compliant with all the laws. This is an important part of pricing your photography services because if you don’t account for taxes, you may not be making as much profit as you think.
Frequently Asked Question
What should I charge for my photography services?
This is a difficult question to answer, as there are many variables to consider when pricing your photography services. Some factors to think about include: your skill level, the type of photography you specialize in, your experience, the length of the shoot, the number of people being photographed, the usage rights for the photos, and any post-processing. The best advice someone can give you is to look around and see what other photographers charge for similar services. Don’t get too higher over the market prices. But also don’t lowball your prices just to get business, as this will only devalue your services. Once you have a good idea of what the market rate is, you can start to figure out how much to charge for your specific services. If you’re just starting out, you may want to consider charging less than the average photographer.
How many pictures should I provide to my client for 1 hour session?
This is again a difficult question to answer, as it depends on many factors such as the type of photography, the number of people being photographed, the length of the shoot, etc. A good rule of thumb is to provide around 50 edited photos for a 1-hour session. This will give your client plenty of options to choose from, without overwhelming them with too many photos. Of course, the final number of photos will also depend on how many good shots you were able to get during the session. If you only have a few good shots, then you may want to provide fewer photos to your client. On the other hand, if you had a great shoot and got lots of great.
A tip I can share with you is to prepare different packages with different prices so your client can pick the best suits for him. When you think about value, the business will be easier for you.